Description
This is our first report on Toll Brothers. The company recorded a strong performance for the fourth quarter of Fiscal Year 2023, despite challenges such as high mortgage rates, global unrest, and fears of a recession, delivering 2,755 homes and yielding $2.95 billion in home sales revenues. Similarly, for the full year, the company delivered 9,597 homes at an average price of around $1.03 million, bringing the total homebuilding revenues to a record $9.9 billion. The company’s strategies including not chasing sales at lower margins, increasing the supply of spec homes, and focusing on operational efficiency were pivotal in these outcomes.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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